GM's Saab Draws Interest: Report

The Saab brand of General Motors ( GM) has received interest from several potential bidders including China's Geely Automobile and Dongfeng Motor, Reuters reports, citing sources with direct knowledge of the sales process.

GM hasn't yet begun an official auction for the Swedish brand but expects to have preliminary financials for Saab ready in a few weeks, according to Reuters.

Several parties have expressed an interest in the brand, and GM would like to pursue a quick first round of bids soon after it has sent out the financial material.

GM has received interest from about five potential bidders so far, including private equity firms and representatives of retired Swedish workers, Reuters reports.

A senior executive of Geely said the company hasn't had any talks over a possible bid for Saab and isn't interested in foreign brands, a separate Reuters report said.

Sales at Saab, which has filed for reorganization in Sweden, were down 58.9% in the U.S. in February.

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